Staff Reporter
Loan arrears have increased, according to new research.
Standard & Poor’s latest analysis has found loans underlying Australian prime residential mortgage backed securities (RMBS) that are greater than 30 days in arrears have grown by four basis points to 1.35 per cent.
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Despite this increase, subprime RMBS arrears continued to improve during the month of October, falling 15 basis points to 8.41 per cent.
In addition, arrears in the greater than 60 day but less than 90 day bucket declined by 40 basis points to 1.41 per cent – a positive result in the current environment.
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